3M Q2 sales decline 4% YOY
3M reported second quarter sales of $8.3 billion, down 4.3% year-on-year, with an organic sales decline of 2.2% year-on-year.
"In the second quarter, the actions we took to strengthen our supply chain and restructure the company led to improved service for customers, reduced costs across 3M, and better than expected margins and cash flow," said Mike Roman, 3M chairman and chief executive officer. "As we execute our strategy, we are positioning 3M for long-term performance, including progressing the planned spin of our Health Care business and addressing a significant portion of PFAS litigation."
Operating cash flow of $1.5 billion represents a 34% increase year-on-year; adjusted free cash flow of $1.5 billion is up 44% year-on-year.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
